Hedge fund Starboard Value delivered the mother of all food reviews this week with a 294-page slide presentation tearing apart Darden Restaurants, the struggling parent company of Olive Garden. It charges the Italian chain with all manner of incompetence—from serving too little alcohol to serving too many breadsticks—but the most…
I have read 177 pages of this so far and it is pretty much one of the most fascinating things I’ve read in recent history.
Red Lobster was sold far under it’s actual value because the executives’ bonuses were being affected by it’s poor performance.
Olive Garden has “false waits” of up to 90 minutes on Friday and Saturday night. Which sounds like something that would happen at some weird, trendy, ultra upscale restaurant in New York City where the owner wants you to have an “experience” before serving you a single noodle on a small square plate.